Global Oil Prices Rise to US$64.37 per Barrel (Monday, March 22)
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Global crude oil prices strengthened on Monday, March 22, 2021, until 09:40 WIB. Brent crude traded at US$64.37/barrel, up 0.6% from the previous day's trading. Meanwhile, West Texas Intermediate (WTI) crude also strengthened by 0.57%, reaching US$61.27/barrel.
Global oil prices had fallen by as much as 7% on Thursday, March 18, 2021, amid concerns about weakening oil demand in Europe.
Furthermore, major European countries reimposed regional lockdowns. Simultaneously, the Covid-19 vaccination program slowed due to distribution problems and concerns about side effects, as quoted by Reuters.
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